Different players, different game
A few years ago the secondary market was dominated by one or two names. With the increase in gates, side pockets and illiquid assets, secondary trading of hedge funds has blossomed. More players are in the market, although few are expected to stay the course. Hedge Funds Review looks at the trends for 2010.
Secondary trading of hedge funds has moved a bit more into the spotlight in the aftermath of the financial crisis. With the imposition of gates, side-pocketing of illiquids and the general need by some investors for cash, the secondary market suddenly took off.
As is the case when an opportunity presents itself, several new entrants have arrived on the scene while other, more established players continue to provide a service. What claims to be the first secondary trader, Swiss-based Hedgebay, is
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